Tenable (NASDAQ:TENB) Hits New 12-Month Low – Time to Sell?

Tenable Holdings, Inc. (NASDAQ:TENB) reached a new 52-week low during trading on Thursday . The company traded as low as $21.26 and last traded at $21.44, with a volume of 299241 shares. The stock had previously closed at $22.47.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Barclays cut their price objective on shares of Tenable from $33.00 to $28.00 and set an “equal weight” rating for the company in a report on Monday, January 5th. Canaccord Genuity Group cut their target price on shares of Tenable from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Tenable in a report on Thursday, January 22nd. DA Davidson decreased their price target on shares of Tenable from $32.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Truist Financial set a $27.00 price objective on Tenable in a research report on Tuesday, January 20th. Ten equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $34.71.

Tenable Trading Up 2.2%

The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.03. The stock’s 50 day moving average is $24.26 and its 200-day moving average is $27.94. The company has a market cap of $2.63 billion, a PE ratio of -81.70 and a beta of 0.64.

Tenable (NASDAQ:TENB) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.05. The business had revenue of $252.44 million during the quarter, compared to analysts’ expectations of $247.43 million. The business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.32 earnings per share. As a group, sell-side analysts anticipate that Tenable Holdings, Inc. will post 0.12 EPS for the current year.

Insider Buying and Selling

In other Tenable news, Director A Brooke Seawell sold 115,000 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $24.82, for a total transaction of $2,854,300.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Tenable

Institutional investors have recently modified their holdings of the stock. State of New Jersey Common Pension Fund D increased its position in shares of Tenable by 18.2% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 83,599 shares of the company’s stock valued at $1,967,000 after purchasing an additional 12,885 shares during the last quarter. UBS Group AG boosted its stake in Tenable by 327.6% during the fourth quarter. UBS Group AG now owns 3,092,577 shares of the company’s stock worth $72,768,000 after buying an additional 2,369,402 shares during the period. Vanguard Group Inc. boosted its stake in Tenable by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 15,427,510 shares of the company’s stock worth $363,009,000 after buying an additional 465,039 shares during the period. Graphene Investments SAS increased its position in Tenable by 19.1% during the fourth quarter. Graphene Investments SAS now owns 129,200 shares of the company’s stock valued at $3,040,000 after acquiring an additional 20,700 shares during the last quarter. Finally, CWM LLC raised its stake in shares of Tenable by 17.2% in the fourth quarter. CWM LLC now owns 29,249 shares of the company’s stock valued at $688,000 after acquiring an additional 4,295 shares during the period. 89.06% of the stock is owned by institutional investors.

Tenable Company Profile

Tenable Holdings, Inc is a global cybersecurity company specializing in vulnerability management and continuous threat exposure assessment. Headquartered in Columbia, Maryland, Tenable was founded in 2002 by Ron Gula and Jack Huffard to address the growing need for proactive network security solutions. Over the years, the company has evolved from a pioneer in open-source vulnerability scanning to a leading provider of comprehensive security platforms that help organizations identify, investigate and prioritize cyber risks across on-premises, cloud and operational technology environments.

At the core of Tenable’s product suite is Nessus, one of the industry’s most widely adopted vulnerability scanners.